Reuters — Packaged meat producer Maple Leaf Foods reported a lower-than-expected quarterly profit on Thursday, hit by higher costs as it invested more in new initiatives and capacity expansion. The company has been keen on expanding in the U.S., seeing growth opportunities in humanely raised animal products and alternative protein sources. In April, the company […] Read more
Maple Leaf quarterly profit misses estimates as costs rise
Maple Leaf profit misses estimates on weak pork prices
Reuters — Packaged meat producer Maple Leaf Foods missed analysts’ estimates for quarterly profit on Thursday, as weak pork prices offset growth in its prepared meats business. Pork prices have taken a beating from the Sino-U.S. trade war, with China’s retaliatory tariffs affecting demand from the South Asian country, which is the world’s biggest pork […] Read more
Tyson invests in non-meat protein
Reuters — Tyson Foods, the largest U.S. meat processor, took a five per cent stake in plant-based protein maker Beyond Meat amid growing pressure on food companies to reduce environmental and health risks by changing the way they source protein. Terms of the deal were not disclosed. Manhattan Beach, Calif.-based Beyond Meat sells plant-based burger […] Read more
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